NEWS

Milestone: Tron (TRX) Transactions Exceed $1 Billion on May-14

Tron (TRX) has recorded a 24-hour transaction volume that was last seen in mid-2018. On May-14, the TRX platform recorded a volume worth of one billion US dollars/

Misha Lederman, the co-founder of IAMDecentralized and an advisor at dApp evolution, tweeted:

“Tron just passed 1 billion USD in 24-hour trading volume. Last time TRX had a 24-hour trading volume surpassing 1 billion USD was on May 1, 2018 – one month before Tron Mainnet launch over a year ago! Good times ahead for all TRX hodlers & users.”

The journey to the increase in transaction volume was not abrupt. In March, Tron (TRX) surpassed yet another milestone by recording a capacity higher than that of Ethereum (ETH) and EOS (EOS). Notably, the volume was larger than EOS’s and ETH’s combined.

It Even Surpassed ETH and EOS Combined

To be precise, on March 6, Tron recorded a transaction volume worth slightly above 100 million US dollars. EOS and ETH, on the other hand, posted transaction volume worth roughly 16 million US dollars and approximately 4 million US dollars respectively.

Not surprising, Tron’s competitors have been finding it hard to keep up with the pace. For example, apart from leading in transactional volume, it is also leading in the number of new decentralized applications (Dapps). In the first week of March, for example, a scan of the Tron blockchain revealed that the platform has over 160 Dapps and over 464 smart contracts.

Additionally, the scan picked 10 decentralized exchanges on the platform, six games, among others. As of Jan 2019, the total new users of decentralized apps on Tron was 164,150 compared to 79,528 and 59,869 on EOS and ETH respectively.

A tweeter user, BCorgi12, noted:

“The Dapps are surging too, some really unique content being delivered to Tron users. If you haven’t already, I strongly suggest looking at @Blazemachin. The perfect mix of PvP, gambling, and trading. It’s a lot of fun.”

Lederman added:

“As Tron has 4 times as many daily active Dapp users on May 13, this is likely to grow to 10X EOY 2019 given Tron’s scalability & the plethora of sophisticated games & platforms being built & soon Launched on TRX.”

Bitcoin Was Also Finding It Hard to Keep Up

Interestingly, it’s not only ETH and EOS that are finding it hard to keep up with TRX when it comes to transaction volume. Bitcoin, the most valuable coin, in a research by Data Light, is nowhere in the transaction volume tracks.

For instance, in 2018, the prolonged crypto winter saw Bitcoin struggling to post a transaction volume worth $250,000 towards the end of October. At the same time, TRX was recording a transaction volume worth roughly $500,000. Keeping up with momentum, in November, it crossed the one million mark. It kept the momentum and crossed 2019 where it surged to 100 million and consequently to 1 billion.

However, the leading role is not by chance. Tron charges negligible fees when conducting transactions on the platform. Additionally, it has a high transaction speed. This two can be seen as the main incentives why Tron is surpassing the likes of Ethereum.

Dalmas Ngetich
About author

Loving Crypto, Open to Technology, Engineer, Trader
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